Guideline Value for Sri Kumaran Nagar

Sri Kumaran Nagar guideline value

The current guideline value of Sri Kumaran Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Nemili_B village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Kumaran Nagar has changed

The guideline value for Sri Kumaran Nagar has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that in 2023, the guideline value was Rs 400 per sq.ft, which was reduced to Rs 300 per sq.ft in the 2024 revision, marking a decrease of 25%.

Prior to the 2023 revision, there were no figures available for the street in the previous revisions. The 2024 guideline value of Rs 300 per sq.ft is significant as it is above the median value of Rs 250 per sq.ft for the 97 streets in Nemili_B under the Sriperumpudur SRO.

Guideline values in Nemili_B

In Nemili_B village, the guideline values range from Rs 150 to Rs 1,500 per sq.ft, with the median at Rs 250 per sq.ft. Sri Kumaran Nagar's 2024 figure of Rs 300 per sq.ft is above this median, indicating its relative position among the other streets in the area.

• Sri Karpaga Vinayaga Nagar Part-1: Rs 1,000 per sq.ft (2024)
• Sri Kamatchi Nagar: Rs 200 per sq.ft (2024)
• Sri Kamacthi Nagar: Rs 250 per sq.ft (2024)
• Srinivasa Nagar: Rs 200 per sq.ft (2024)
• Sri Devi Nagar: Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kumaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty is calculated at 7%, resulting in Rs 21,000, while the registration fee at 2% amounts to Rs 6,000. Together, these fees total Rs 27,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Kumaran Nagar?

Sri Kumaran Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nemili_B

The guideline value plays a crucial role in the registration process of property transactions in Nemili_B. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration of property.

When a property is bought or sold, the guideline value is used to calculate the applicable charges. This ensures that the transaction is recorded at a value that reflects the official pricing set by the registration department.

Frequently asked questions

What is the current guideline value of Sri Kumaran Nagar?

The current guideline value of Sri Kumaran Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value decreased from Rs 400 per sq.ft in 2023 to Rs 300 per sq.ft in 2024, which is a reduction of 25%.

What are the other streets in Nemili_B and their guideline values?

Other streets in Nemili_B include Sri Karpaga Vinayaga Nagar Part-1 at Rs 1,000 per sq.ft, Sri Kamatchi Nagar at Rs 200 per sq.ft, Sri Kamacthi Nagar at Rs 250 per sq.ft, Srinivasa Nagar at Rs 200 per sq.ft, Sri Devi Nagar at Rs 200 per sq.ft, and Sri Balaji Nagar at Rs 200 per sq.ft, all for the year 2024.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is typically 7% of the guideline value or the sale price, whichever is higher, while the registration fee is generally 2% of the guideline value.

Where can I find the Sub Registrar Office for Sri Kumaran Nagar?

The Sub Registrar Office covering Sri Kumaran Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.